Interclean Compensation Plan
- Submitted by: chanchan1
- Views: 1176
- Category: Other
- Date Submitted: 05/06/2010 07:16 PM
- Pages: 4
- Report this Essay
InterClean Compensation Plan
The merger between InterClean and EnviroTech is now complete. It is our desire to catapult this organization towards becoming the industry leader in industrial cleaning and sanitation. Management recognizes that in order to do so, our most valuable asset must be protected, which is the InterClean employee. With future profitability resting upon the shoulders of the employees, management is proposing a new and improved compensation plan for InterClean’s employees.
Employee Compensation Plan
The employee compensation plan for wages and salaries will be derived from the point method of job evaluation. Through this job analysis instrument, jobs will be ranked in terms of their overall worth, a factor comparison method whereby rates of a sample of equally compensated jobs are divided among knowledge and skill set requirements, and wage/salary surveys of similar jobs to determine median compensation rates for each job (Robinson, 1974). Once this information is compiled and reviewed, points will be assigned to each job across each compensable factor and then totaled. Job worth is determined as a result of this method and ranked in order form of highest to lowest point total. This method has been used to successfully and fairly establish compensation rates that are comparable to the pay of others within this profession. This method works because it leaves the company with the understanding that it is paying employees consistently with what is expected for the job and would not allow for employees to be over-paid or under-paid.
InterClean prides its self on having the industry’s most productive sales force. It is the sales team that drives productivity for the organization. Therefore, in addition to the base salaries provided through the point method, our sales professionals will be eligible for additional commission pay based upon performance appraisals which will measure an employee’s sales volume against quotas and goals set...
The merger between InterClean and EnviroTech is now complete. It is our desire to catapult this organization towards becoming the industry leader in industrial cleaning and sanitation. Management recognizes that in order to do so, our most valuable asset must be protected, which is the InterClean employee. With future profitability resting upon the shoulders of the employees, management is proposing a new and improved compensation plan for InterClean’s employees.
Employee Compensation Plan
The employee compensation plan for wages and salaries will be derived from the point method of job evaluation. Through this job analysis instrument, jobs will be ranked in terms of their overall worth, a factor comparison method whereby rates of a sample of equally compensated jobs are divided among knowledge and skill set requirements, and wage/salary surveys of similar jobs to determine median compensation rates for each job (Robinson, 1974). Once this information is compiled and reviewed, points will be assigned to each job across each compensable factor and then totaled. Job worth is determined as a result of this method and ranked in order form of highest to lowest point total. This method has been used to successfully and fairly establish compensation rates that are comparable to the pay of others within this profession. This method works because it leaves the company with the understanding that it is paying employees consistently with what is expected for the job and would not allow for employees to be over-paid or under-paid.
InterClean prides its self on having the industry’s most productive sales force. It is the sales team that drives productivity for the organization. Therefore, in addition to the base salaries provided through the point method, our sales professionals will be eligible for additional commission pay based upon performance appraisals which will measure an employee’s sales volume against quotas and goals set...